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A-League and Australia Cup 2023/24


Eednud

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  • 2 weeks later...

Not only fan problems for Victory.

 

https://www.theage.com.au/sport/soccer/record-financial-loss-at-melbourne-victory-as-us-ownership-looms-20221231-p5c9kr.html

So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show.

The investment from 777 Partners was described by Victory as a “strategic” move in October, but a recent 145-page document sent to shareholders shows the deal could give the investor the right to buy up to 70 per cent of the club on what appear to be favourable terms.

In October, Victory announced a deal with 777 Partners that was pitched as giving the firm a minority stake in return for up to $10 million. While that was correct – the initial investment was worth $8.7 million for a 19.9 per cent stake – there was more to the deal.

The private equity investor was given the option to own up to 70 per cent of the club within five years through an investment of up to $30 million, the documents show. After four or five years, 777 Partners also had the right to walk away from Victory and be repaid the $30 million at a compounding interest rate of 10 per cent a year.

The deal would also give it a preferential position over existing shareholders if Victory was liquidated.

 

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  • 4 weeks later...
On 03/02/2023 at 03:25, Eednud said:

Football Australia opens expressions of interest for national second tier competition.

https://www.footballaustralia.com.au/news/football-australia-opens-expressions-interest-national-second-tier-mens-competition

Do you think there'll be enough interest to get this off the ground?

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4 hours ago, Craig fae the Vale said:

Do you think there'll be enough interest to get this off the ground?

Thirty clubs signed off on the Association of Australian Football Clubs report 12 months ago so would guess most would still be interested. Hopefully something gets up and running with guaranteed promotion/relegation to A-League and from NPL. Big issue will be finance and sponsorship and avoiding it becoming too Melbourne/Sydney centric. Not sure what the A-League’s response will be as they are now independent from Football Australia and the A-League is a bit of a shambles just now after the Sydney Grand Final decision and actions of some selfish Victory fans. A 2024 start might be too soon.
 

http://www.australianfootballclubs.org.au/uploads/9/8/8/1/9881717/aafc_nsd_final_report__22.02.22_.pdf

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Australia Cup Preliminary Rounds for 2023 got under way last night in Victoria with St Albans Gospic Bears 1 Sandown Lions 5. There are a lot more games in Victoria, South Australia and Queensland this weekend and NNSW next weekend. Last year there were 742 teams but this year’s number hasn’t been finalised as still waiting on the draw from NSW, WA, ACT, NT and Tasmania. 

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